Description of Activities

The Commission resolved to approve without conditions the acquisition by Bank BIC S.A. of Bank BIC Namibia Holdings Limited and its subsidiary Bank BIC Namibia Limited.

The acquiring group is an Angolan-registered banking institution.

The target undertaking is a holdings entity with interest in Banco BIC Namibia Limited, a Namibian-registered banking institution.

Relevant market: Defined as the provision of banking services to retail and corporate clients in Namibia. 

Merger Determination

The Commission found the proposed transaction unlikely to result in the prevention or substantial lessening of competition; it does not result in any undertaking acquiring or strengthening a dominant position in the market and does not raise any public interest concerns.